Hello sir
This query is : Resolved
Guest
Guest
(Querist)
11 February 2012
gud morning experts,
can u tell me this. that my father have 2 buses hired by fectory for his worker.than sir our gross turn over above 25 lakh . than sir can u plz tell me that
can i show my income as presumtive bases.
what will better for me.if i will show my income as presumtive for this what will i do
Regards
Rajiv
can u tell me this. that my father have 2 buses hired by fectory for his worker.than sir our gross turn over above 25 lakh . than sir can u plz tell me that
can i show my income as presumtive bases.
what will better for me.if i will show my income as presumtive for this what will i do
Regards
Rajiv
CA PARAS BAFNA
(Expert)
11 February 2012
You have to multiply the turnover from buses, so that the case of your father will come under the Tax Audit provisions.
.
You have to multiply the turnover of Rs 2500000 by 8 to show income on presumptive basis. Yes you can show income U/s 44AD.
.
You have to multiply the turnover of Rs 2500000 by 8 to show income on presumptive basis. Yes you can show income U/s 44AD.
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